- Types:
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bank discount, discount, discount rate
interest on an annual basis deducted in advance on a loan
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discount rate
the rate of interest set by the Federal Reserve that member banks are charged when they borrow money through the Federal Reserve System
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base rate
the interest rate set by the Bank of England for lending to other banks
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prime interest rate
the interest rate on short-term loans that banks charge their commercial customers with high credit ratings
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usury, vigorish
an exorbitant or unlawful rate of interest
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bank rate
the discount rate fixed by a central bank
